%0 Journal Article %A Wilson, Christopher %A Garrod, Luke %A Munro, Alistair %D 2014 %T Default effects, transaction costs, and imperfect information %U https://repository.lboro.ac.uk/articles/journal_contribution/Default_effects_transaction_costs_and_imperfect_information/9494219 %2 https://repository.lboro.ac.uk/ndownloader/files/17120393 %K Default effect %K Transaction cost %K Imperfect information %K Economics %K Economics not elsewhere classified %X We develop a decision framework with imperfect information to analyze the effects of transaction costs on the tendency for individuals to remain with a default option. We demonstrate how transaction costs can be a more important source of such default effects than commonly thought. A further, potentially surprising result shows that transaction costs are able to explain why some forms of default effects increase with the number of options. %I Loughborough University